Which of the following is NOT a type of free market?
A) monopoly
B) oligopoly
C) managed competition
D) monopolistic competition
E) perfect competition
Answer: C
Explanation: C) Managed competition is a term used in the health care industry.
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Insurance policy benefits are classified on an insurance company's balance sheet as
A. liabilities, because the insurance company may have to pay out the benefits. B. assets, because policy benefits are valuable to the company. C. liabilities, because customers may fall behind on their premium payments. D. assets, because policy benefits are fully covered by premium payments. E. liabilities, because insurance companies must maintain a capital base to cover the payments of benefits.
A bailment is a special form of a sale of goods in which possession is transferred to a bailee
Indicate whether the statement is true or false